·	2014 revenues of $21.4 million, up 526% from $3.4 million from the prior year.

·	Achieved 2014 Non-GAAP net income of $4.2 million, or $0.36 per common share, compared to a 2013 net loss of $(300,000), or $(0.03) per share.

·	Cash and cash equivalents of $5.1 million as of December 31, 2014, compared to $3.6 million as of December 31, 2013.

·	Acquired nine patent portfolios in active enforcement consisting of 260 patents during the year bringing total to 378.

·	Currently have 19 portfolios covering 14 distinct technology areas, 16 in active licensing campaigns compared to four at year-end 2013.

·	Twelve portfolios have generated revenue to date, up from three portfolios through the end of 2013.

·	Six portfolios have generated a net positive return in excess of their cost to acquire and enforce the portfolio.

·	Added seasoned IPNav veterans Rick Sanchez and Umesh Jani to the Marathon team.

·	Launched Opus Analytics patent analysis platform.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

MARATHON PATENT GROUP, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
	December 31, 2014					December 31, 2013
ASSETS
Current assets:
Cash		$	5,082,569			$	3,610,262
Accounts receivable - net			216,997				270,000
Marketable securities - available for sale securities			-				6,250
Bonds posted with courts			1,946,196				-
Prepaid expenses and other current assets			438,391				752,931
Total current assets			7,684,153				4,639,443
Other assets:
Property and equipment, net			53,828				13,640
Intangible assets, net			43,363,832				6,157,659
Deferred tax assets			4,952,309				-
Goodwill			3,432,308				2,144,488
Total other assets			51,802,277				8,315,787
Total Assets		$	59,486,430			$	12,955,230
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable and accrued expenses		$	3,293,746			$	754,945
Clouding IP earn out - current portion			2,092,000				-
Notes payable			17,085,000				-
Total current liabilities			22,470,746				754,945
Long-term liabilities
Convertible Notes, net of discount of $146,935			5,403,065				-
Clouding IP earn out			7,360,000				-
Total long-term liabilities			12,763,065				-
Liabilities of discontinued operations			-				30,664
Total liabilities			35,233,811				785,609
Stockholders' Equity:
Preferred stock Series B, $.0001 par value, 50,000,000 shares  authorized: 932,000 and 0 issued and outstanding at December 31, 2014 and December 31, 2013			93				-
Common stock, ($.0001 par value; 200,000,000 shares authorized;  13,791,460 adjusted for the stock dividend  and 10,979,186 issued and outstanding at December 31, 2014 and December 31, 2013			1,379				549
Additional paid-in capital			36,977,169				22,673,287
Accumulated other comprehensive income <loss>			(388,357	)			(6,250	)
Accumulated deficit			(12,337,665	)			(10,487,469	)
Total Marathon Patent Group, Inc. equity			24,252,619				12,180,117
Non-controlling interest in subsidiary			-				(10,496	)
Total stockholders' equity			24,252,619				12,169,621
Total liabilities and stockholders' equity		$	59,486,430			$	12,955,230
The accompanying notes are an integral part to these audited consolidated financial statements.

 

INFORMATION ABOUT NON-GAAP FINANCIAL MEASURES. As used herein, "GAAP" refers to accounting principles generally accepted in the United States of America. To supplement our consolidated financial statements prepared and presented in accordance with GAAP, this earnings release includes financial measures, including (1) non-GAAP net income and (2) non-GAAP Earnings Per Share ("EPS"), that are considered non-GAAP financial measures as defined in Rule 101 of Regulation G promulgated by the Securities and Exchange Commission. Generally, a non-GAAP financial measure is a numerical measure of a company's historical or future performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP. The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP.